Wah Lee Industrial Corp. (3010.TT) announced its June 2022 consolidated sales of NT$6.526 billion, a growth of 11.7% over the same period last year and a growth of 10.2% over last month. 2Q22 consolidated sales reached NT$18.336 billion, a YoY growth of 8.7%. Cumulative Jan.-Jun. consolidated sales reached NT$37.846 billion, a growth of 14.2% YoY. Wah Lee’s overall contribution from semiconductor industry, 5G, AIOT, data center, cloud computing, HPC, EV, and optoelectronic products helped set the record high 1H sales. The company’s continuous development in solar power stations, which reached a capacity of 54MW in 2021, has also helped generate stable incomes and sales.
The global sales of EV has grown over 100% in year 2021. Research institutes forecast the annual sales of EVs in 2025 will reach 28.5 million units, taking over 30% shares of the overall automobile market. China has already become the largest EV market in the world. After gradual alleviation of the Covid-19 lockdowns, the auto supply chain will embrace the strong orders from the EV demands and return to its growth track.
Wah Lee has long been introducing its high temperature resistant nylon from Japan to the auto market. It’s already widely been applied in LED lighting and high speed connectors. Thermoset plastics, on the other hand, were applied in auto electric parts, brakes, piston calibers, pumps, etc. EVs have become the global trends. No matter it’s pushed forward by the governments’ carbon reduction plans and setting the deadlines for the end of internal combustion vehicles, or providing tax incentives for EV owners and the oil price hikes this year, EVs growth momentum is destined to grow substantially. Wah Lee has built its position in EV’s components based on its supply chain in the traditional auto industry. It’s also cooperating with OEM makers in EV charging poles and EV electric power sources and exploring more areas of supply.
The company has introduced many strong mechanical, heat resistant, low temperature tolerant, and fire retardant plastics into the auto industry and has penetrated into the American brand EV supply chain. With the capacity expansions of the above EV maker, sales contributions are expected to be strong. Wah Lee’s positions in new energy vehicles include car connectors, camera modules, intelligent lightings gears, mmWave radar antenna covers, and driving magnetic covers. Wah Lee also took part in the MIH business consortium and will help customers to apply for certifications. The company is well poised to grasp the immense business opportunities of the automobile industry recovery.